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Countdown to the Closing Bell

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Russia 11, U.s. 7, Us 7, S&p 6, Sandy 5, New York 5, Europe 3, Apple 2, Chrysler 2, Obama Administration 2, Fiat 2, John Cortines 2, Shaun Donovan 2, Liz Claman 2, Katrina 2, Axiron 2, Morgan Stanley 2, Erskine Bowles 2, Nicole Petallides 2, Detroit 2,
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  FOX Business    Countdown to the Closing Bell    News/Business. Stock  
   market updates. New.  

    November 15, 2012
    3:00 - 4:00pm EST  

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s&p down a couple points at this moment moving 25 points below its 200 day moving average. looks like it is dealing with its next level of support as investors wait to see whether the markets can find a new reason to stem the losses or at least force a pause before further pullback. 60% of stocks in the s&p 500 are down more than 10%. what does that mean? that places them firmly in correction territory. it is bearish. ten of the biggest names in the s&p are part of the crowd. apple, unable to find support. shares of apple falling today. deeper into their territory as market cap falling below $500 billion for the first time in six months. an incredible run over the last two years. look at these numbers and makes me wonder what is going on. bp has agreed to plead guilty to felony charges, a felony charges
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and a record $4.5 billion in penalties stemming from the deepwater horizon disaster that killed 11 workers in 2010 and unleashed that on your screen, the worst offshore oil spill in u.s. history. shares of bp moving slightly higher today but down 7% this year. let's check out gold, sliding to a one week low acting more like a commodity than a save haven in this volatile market. we talked to george euro on thursday and he said it is not be taking how you think it would for a couple reasons, number one being people don't have enough money to buy gold. when you hear that 60% of the s&p 500 companies are in correction territory i begin to wonder do any of our traders think this is a screaming buy for the markets or are they saying this is a past thing? traders at the stock exchange, cme group and nynex, john cortines, screaming buy or dipping your toe in or standing
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by? >> you got a special co-host on monday, myself, i am looking forward to that. , and i'm looking forward to the experience. the market does not have enough strength. and other trading days this session. the market runs out of steam. it is not so far today. investors look at this, they see red and the market down. this adds to the negative sentiment. a short week, holiday week. and away from trading, that will lead to the volatility, looking forward to december. liz: we are hearing another
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session or two or move downward, that is what we are talking about, some stabilization we won't see the world in but what are traders in chicago saying? >> one positive notes u.s. dollars gaining on a day-to-day basis, doesn't gain a lot, and the cause to that, the japanese yen is starting to lose ground. in the 81 level, most traders looking for 83 or 84. just before holiday next week. that area as we hit europe, it arrives in the streets there, but the second recession so to speak, we're not seeing a drawdown on that and that is having a big effect on the gold market. the flight to safety is coming to the u.s. dollar right now and
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not going to gold or silver. be cautious of black friday and we had the last of years. liz: glad you brought up the dollar because strength is interesting. over the past couple sessions look like a little bit of a trend. that in turn affect things like crude oil, not necessarily moving hire but crude moving down. everything is down except gasoline. do we looking to that heading into the holiday week? >> not really. this market is like that time x watch. keeps ticking. every time we get below $85, the market bounces back. we are stuck in trading range, we will be here quite a while and you will languish until the game change. the game changing like you just mentioned could be the dollar. if we had a severe move in the dollar, it gets a lot stronger you will see the market working its way down and breaking below
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84-1/4 and down to 82. liz: are you looking at the yen? >> looking at the overall dollar index. as a general, there will be major support. this is not a market that is falling away. i don't see it going down. the only problem is the market that until further notice must celadon rallies. liz: there was no rally in the last few minutes because now the dow industrials have another 30 points to the losses and now we're down 58 points. great to see you. 12,512 is where we stand. what would help us? rebuilding. this is a silver lining question. with rebuilding the northeast after hurricanes any spur the economy? a short time ago president obama got a look at the total devastation superstorm sandy left in new york and made an announcement. this man on your screen, shaun
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donovan named him house secretary, named house secretary, the point person on the federal level for the rebuilding effort so shaun donovan gets all the complaints and phone calls but at least there is somebody who is the point person and this moment and we are watching the cost of the cleanup continuing to mount along with the displaced debris, piling high, it is two stories high at one location in queens, new york. liz macdonald was right there in queens. liz: that is right. this normally is a beach area. now is a mile and a half, temporary but new and stunning landfill with some really shocking images of debris from 11 or 12 pounds in the ariane and the business district ending up here. looking in the distance using lawn chairs and photo albums and santa claus statues, christmas toys, children's toys,
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children's car seats. of truly heartbreaking scene out here and as we have been here throughout the day this file is reaching three stories high. it has 350,000 tons which is the weight of the u.s. space station out in outer space. i covered katrina and the debris buildup in katrina, we interview the new york city fire chief and former fire chief that oversaw 9/11 and also the chief of sanitation, this clean-up is bigger than 9/11 and bigger than katrina. what we're seeing throughout the day, 1800 trucks, sanitation trucks working around the clock, full tilt since sandy struck and removing garbage and debris to bring it out of state into pennsylvania and basically you will see publicly traded companies bidding on it, private companies, garbage companies bidding on it because as you
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know one man's trash is another man's treasure. we will be doing live updates throughout the day. liz: the concept of rebuilding is a twist on the broken windows theory. i am making a stretch, but hopefully there is some type of silver lining from all of this. from sandy to sliding for the fiscal cliff, my next guest says it is time to take risk off the table and protect your portfolio. david joy, risk away, the chief market strategist with sixth thirty-one billion dollars in assets. just yesterday we had a completely different message from palisade capital management. we respect both of you. don't be so worried. don't do that while everyone else is doing it but why you feel strongly about risk, table? >> if you look at the fiscal cliff and the possibility that it gets triggered, the likelihood is certainly north of
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zero. there's a lot of complacency on the street that this is going to get done and will buy ourselves additional time, 12 months or whatever it is. if you look at the rhetoric going back and forth it is early days and people are sticking up their negotiating positions but it suggests to me this is not going to be an easy thing to accomplish and whether it is a 10% chance for 20 that could have a significantly negative impact on the stock market index triggered and you need to defend yourself. liz: how do you defend yourself against that instability we know we will see with the markets between now and the width of that fiscal cliff? >> you have to do two things. you have to make sure the equity exposure you have is tilted toward the defensive sectors of the market. things like utilities and consumer staples and things like that. in love bond market, this is more in serious. there has been a tremendous flight of cash into high-yielding lower quality debt
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instruments because you can't get yelled out of the treasury market or the highest quality bond. if there is a rotation away from that and the event of a recession, they are going to get crushed. you have to move up to higher ground. liz: in what form? >> if you want high yield, move up to investment grade. liz: when you say moved up you mean better quality. [talking over each other] >> it has been a great trade to buy high-yield. very profitable but you started to see those spreads widen out between high yield and treasurys last few weeks. it has widened to 1/2%. that is telling you the market is nervous. liz: you say you don't like utilities at this moment. they have -- i am sorry. you do say you like utilities and they have not been a great opportunity. >> no they haven't. it has been a very crowded area, this dividend paying strategy.
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but i think despite that. despite that they are relatively expensive they will protect you in case things go wrong in washington. liz: three names will protect you according to david. david is going to be talking about other ideas, chief market strategist back to tell us which stocks to invest in while this cliff deadline looms. already hearing from people that they are annoyed with the expression fiscal cliff, trying to come up with something else. closing bell ringing in 49 minutes. is the are in brick nation losing its muscle? russia's third quarter gross domestic product growing at the slowest rate since 2010 and the nation's second-largest bank sought profits dropped 63% in the most recent quarter. coming up, the chairman and president of d tv bank joining us in a fox business exclusive to talk about how to navigate the volatile environment including america's fiscal cliff and how do you say fiscal cliff in russian?
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liz: the power mover of the hours diamond foods, the fast-food company going stale hitting a six year low.
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your the one week chart so you can see what happened here and it is not a pretty picture. big drop off right here. news is that it's a six year low it is restating its financial results for fiscal year 2010 and 2011. not just 2011 where the real problems began. that is a real problem because as you see when you look at this company is a troubling thing. not just 20% loss here but look at the one your chart and that is the problem because as you can see where the problems began in february, the new financial results he raised $50 million in profits after an investigation in the company's plan to buy preambles. the company had improperly accounted for $80 million in payments to while the farmers. that is the february problem. you see the drop. this is the real killer. you go to the three year you see where the company was before then. it was a $90 stock. nicole petallides, 4 of the stock exchange, tough earnings competition today. nicole: we are looking at two
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retailers, wal-mart, dow component has been under significant pressure, at one point pulling the dow down 25 points. you see walmart with the down arrow. they came out with numbers where sales were low analyst estimates, not only in the states but also global picture for walmart and as a result that is the big loser. target on the other hand, increasing 4% and sales are on the rise and it has been coming from people coming in and buying more when they are in target. tied it has cards they have been pushing, debit cards and credit cards and you are seeing target as a winner up 1.5%. a tale of two names. target a winner and walmart on the dow and the s&p, 500. i like how you got john cortines ready for next week.
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[talking over each other] nicole: it was great. i enjoyed that he liked that. liz: they all want to play hamlet. nicole: i like putting him to the test. liz: we love john. russia announced it is growing at the slowest pace it has seen in three years. here are the numbers. third quarter gdp growing at 2.9%. economists say it is going to get worse. joining me in a fox business exclusive is the man this matters to. the chairman and president of russia's second-largest bank. i am glad to know we are not the only ones with these problems but we take 2.7% growth. at a time i am wondering when u.s. banks are having so much trouble taking risks and making money because we no risk has better rewards is russia and russian banks finding the same problem? >> in spite of the economic
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growth i think the russian banking sector is doing well. the growth of russian corporate loans expected to be in but mid teens and growth of the retail loans will be 40%. the growth of the retailer -- liz: when you say retailing kymmene home loans? what are retail loans consisting of? >> loans to buy tv or mortgage or other loans for other use. liz: citizens are paying those back. >> starting from a couple of thousand, longer, but quite good. liz: why did your earnings dropped 63%. what was the problem? >> not much problem, but definitely the promise, no fiscal cliff, no sovereign debt default, up but the russian
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economy needs new drivers. we have a lot of balance, still driven mainly by the oil and gas industry and to provide more potential growth we just need a new industry. we have to particularly focus -- we should probably have not much done. liz: joining the world trade organization would that 11% to russia's gdp. what are the new opportunities? what are the new industries you feel russia could come up with other than minerals and energy which a lot of it is run -- are you considered an oligarchic? all the oligarchs -- >> russia traditionally has a high level education of people, quite advanced in high tech. if you look at the military side or space, russia can provide more for the world markets in
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this area. there's particular focus on this industry and government investing money, we hope things will change. liz: the space business, our fiscal cliff, half of russia's income comes from what happens in europe which is weak but we are facing a fiscal cliff. is there a word for fiscal cliff in russia? >> not necessarily be very accurate connotation. liz: what is it? [speaking russian] liz: we put it in cyrillic for you. the u.s. falling off a cliff. i don't mean to laugh because i don't believe it is going to happen but will u.s.'s instability affect the business? now that you have it in new york and trying to extend? >> the sector, the price of all
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stocks because the trends in the stock price is very much the same as the global trend. as the stock market outperforming and underperforming the lowest in july, the russian stock market including our stock, that is one thing and the global stability in general, russia and potentially the view of our company for the future, we are part of the global economy. what is happening in new york will have an affect on moscow. liz: all the more reason the russians would like to fix the fiscal cliff. we are not the only one. great to see you. the chairman and president of dtb bank, 85% owned by the russian government. eventually he will take a more private. we will see you in davos i hope. closing bell ringing in 38
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minutes. today's fiat chrysler ceo sergio marchionne announced an expansion of chrysler's manufacturing to keep up with demand, 31 straight months of sales. any way you slice it is a success story. does the struggling european fiat have the cash to buy the remaining stake in chrysler. jeff flock with a microphone in the troy talking to the man behind the machine. it's a new day. if you're a man with low testosterone, you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axiron is not for use in women or anyone younger than 18.
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liz: just three short years after craigslist filed for bankruptcy, it is really rising again. cl announcing new investments again for the car company as well as plans to hire more than 1,000 workers. jeff flock is at the mack avenue engine plant in detroit. it's great to hear good things happening in detroit.
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>> reporter: how would you like to be able to invest in chrysler? that could happen. breaking news today, as we talked to him. here is so it would work. they have a deal worked out in 2009 in bankruptcy for the uaw trust that holds 40 percent of chrysler to sell their incremental shares back to fiat. well, now that the company is doing so well, as you report, the uaw says, we think it's worth more than we agreed to back in 2009, and that could force them to launch an ipo for their stake. here is what he said. he's angry at the union, has filed suit against them and here's what he told us today. >> in 2009 outlining how the thing ought to be calculated. it's a formula. i have better things to do with my time. let the judge determined what the proper interpretation is. >> reporter: and so, the judge
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now has the suit before him and will decide how much the uaw stake is worth and how much feel it would have to pay for it, but if they cannot reach an agreement it is possible the uaw could force chrysler to launch an ipo for its stake. you and i could invest potentially in chrysler, as you point out it looks like a pretty good investment. liz: i have faith in that guy. he has to an impressive things. he has done nothing but grow that company. >> reporter: and the union led some to believe not. it's incredible. liz: real italian. >> those guys as thick as these, those two. [laughter] liz: the brooklyn version. >> westchester county. liz: all right. i don't know. thank you very much. the extreme job, not treasury secretary. a lot of people talked about him possibly being treasury secretary, but rather the czar of the fiscal botox. the white house is apparently
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wary of a guy who both sides seem to like. >> he will talk like this. liz: that's italian. >> no. [laughter] >> it's really not erskine bowles say nobody is the obama administration. the series here for a minute. if you're right about the physical if you have to worry about what the story means because erskine bowles is a guy that can get in the middle of republicans and democrats. republicans like and, clinton's former chief of staff. he has close ties. liz: a business guy. >> a business guy with close ties to a lot of republicans. he has support from democrats. a lifelong democrat. he is a guy that can bring both sides together, and the fact is, the obama administration is not just distancing themselves. they said, we don't want any part of you, at least right now. he is telling people he will be treasury secretary. no way. liz: he doesn't want to. >> that is where it is a little murky.
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they don't want him. they really don't want him. from what i understand, as of now it is jack lose. the president has named jack the chief of staff, the chief of staff, and anyway, he, it's his job to lose. it's not official, anything can happen, but that's when i understand. what's even worse, he wants to do something kind of interesting he wants to be the czar of this fiscal cliff negotiation going on to avoid hitting the fiscal cliff which means if they don't come to a compromise, the automatic spending cuts and tax increases kick into affected the end of the year. even then the white house is rebuffing him as of now. it won a part of that. they just want to given that much power over the stocks. it looks like, to me, and a five was, if you have money in the markets you have to worry about this. it looks like the fiscal cliff, the fact that we had all this crazy stuff, is growing in likelihood. if you don't have a guy that is basically respected by both sides not in the middle on this thing in both sides are pretty
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far apart if you listen to them by rhetoric, we talk about compromise and then mr. lang of their agendas, and this message different. obama, a lot of taxes. the republicans, closing loopholes, but that won't budge. they said it won't budge on the a parade. he's someone. that animal, they don't want them. the white house as a one-act. so anything can change. hope springs eternal. if he was sitting here right now i would ask him why he was doing this and what the response of the light passes. i can tell you, i put calls into and, not getting back. liz: you will try to talk about that. you broke the story. we are working on, you know, getting an answer to that question take. >> it is:00 -- it is a shame that he is ducking is on this. it really is. liz: there are other forces that works, perhaps. >> some -- the godfather. you know, like the puppets. liz: i'm ready to call the
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justice department. anti-competitive behavior. >> and granted to all my hits in italian accents. liz: can i do mine in yiddish accidents? accidents, a little for it is up there. thank you. >> meyer lansky and charlie luciano talking. liz: we've never seen that before. right here. thank you very much. closing bell ringing in 27 minutes. we will be right back. the ceo of trillion asset management on why it might be time to break up, at least the nuns, the nuns are saying it is. >> what does that mean? liz: wait until we year. on behalf of the nuns. you have to watch. having you ship my gifts coul't be .
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♪ >> i'm adam shapiro with your fox business brief. stocks continued their downward
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trend as investors gauge the impact of superstar sandy and the risk of going over the so-called fiscal cliff right now . the dow is down roughly 69 points. allstate expects the cost of superstar sandy touch top 150 million. the insurance company says a more specific estimate is pending. considered to be one of the company's most exposed to insured losses from the storm. 439,000 americans filed for first-time unemployment benefits last week, pushing jobless claims to their highest level in 18 months. hurricane sandy was a factor for the storm added numbers to an already weakening jobs market. the unusually high number is the first full report following the presidential election demanded follows an unusually low numbers reported just before the election. we continue our "countdown to the closing bell" with liz claman. ♪ liz: i think atomism a bad mood.
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he usually says, with liz claman, the girl who would stay at the browns' game in 0-degree weather. [laughter] let's check in with nicole petallides. she always says of energy for me. >> reporter: well, i wanted to take a look here. facebook, the is the story. posting some nice gains. we have management shake-up. yesterday and today, you had two executives leaving yesterday. yet the chief financial officer. you have that treasure going over to twitter. but the stock is doing well. they have a new game coming out, multiple level. there also plan a defense planning on bringing safari from the mobile devices. they get a vote of confidence. a lot of things happening here, but you can't lose sight of the fact it has really been a big loser. they took over the last three months, trying to get it to go. they have not. the continued to sell.
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liz: thank you, nicole. only one month after the ceo resigned, a lot of you on the stock. widely held, getting hit with a shareholder proposal from my group of benedictine nuns, and another group called ask me that involves state and municipal and local workers. now, the proposal calls for the company to explore a separation of one or more of its businesses why did the sisters filed a proposal? here to break it all down is the guy who help them do this. he is the ceo. he filed the proposal on behalf of the two groups. the nuns. >> right. liz: what is a put that? >> we have a lot of shareholders , obviously, hope are concerned that issues around environmental social profiles commander try to work on improving the. in this case we have will reconsider the way across all categories of environmental, social, and potential returns for shareholders because we think there is an ability to
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unlock value here when we look at the potential component parts liz: the nuns have a group. they have an investment fund with you. >> the nuns have their retirement assets with us, and this is for our group of nuns in kansas, and they are very concerned about their fiduciary obligation to all the nuns for whom this is their retirement plan, and we have helped them in looking at financial services. one of the options for the town, and we have been working and now we increase value. liz: what to they say, in god we trust of others pay cash, or at least talks that are valuable. and what we do you think they should be broken up? which pieces should be ripped off and moved to separate entities that would unblock that shareholder value? >> we have looked at it a number of different ways. we are really asking that the board take that on to look and examine the different ways. when you look at, for example,
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morgan stanley spinoff of discovered and look at that value creation and that year after, you sort of can see the kind of power of spinning it off. of course you know the former ceo of morgan stanley has been public about the fact that the credit-card business should be spun off. he thinks that would be great for value creation and for simplifying the business model. liz: they have lost so much sense of the crime was the ceo. he was just booted. but while he was the ceo of the stock went down 89%. we now have a new one. but yeah fate he will figure this out? >> he has been incredibly talented that selling off non-core assets under holdings. so he has been doing a great job. the division he recommend we think he will do a fantastic job as ceo. we are very hopeful that he will be responsive to shareholders and still looking at this as an option. liz: it is a little bit of a
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travesty, and here is white. i am a client. i bank there. i love their online bank. everything about it, and their global. airdrop down and there it is. anywhere. is there. why is it traded below book value since 2008? why have they -- they did not pass the most recent stress test in march. that is ridiculous for a company that is supposed to be run so well. where you agitating for? >> i'm not suggesting that we need to replace the board. i am suggesting that they may want to look carefully at the business and realized that, perhaps too big to fail, as they have been labeled, is too big to manage. they should be looking at how you breaking into pieces that are manageable and where we can see clear lines of business and after parables are we can see multiple expansions? you look at the four core businesses of retail bank and investment bank, trust bank, and a credit card business, this
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should trade at at least 50% premium to where it is now. liz: up 30 percent of the past year, but the price-to-earnings ratio is a mere seven. that makes it cheap, but for some reason people are not buying it. >> i think there is still concern of the complexity and management of risk. liz: they have now responded to you. all day long or since you filed this. however, shannon bell is a spokesperson, did say, she put out a statement and said to we have done a lot. we have not only reduced on wanted assets from more than 600 billion, but our capital buffers are among the highest in the industry. regardless, it's still not moving the stock. >> agreed. and there is more opportunity, and we really look at the new ceo and the new chair as opportunities to have the board look at this because the new chair has done a great job in really focusing them on their core business. let's hope he does the same.
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liz: the sisters of the benedictine. that's incredible. if they can't get them to move, nobody can. thank you very much. he is the ceo. we are now appearing much of the loss, down only 33 points.befor we'll be right back. son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making it hard to breathe, i thought those days might be over. so my doctor prescribed symbicort. it helps significantly improve my lung function starting within five minutes. symbicort doesn't replace a rescuinhaler for sudden symptoms. with symbicort, today i'm breathing better. and that means...fish on! symbicort is for copd including chronic bnchitis and emphysema. it should not be taken more than twice a day. symbirt may increase your risk of lunginfections, osteoporosis, d some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking it. with copd, i thought i'd miss our family tradition. now symbicort significantly improves my lung function,
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liz: i am going to ask you, if you were to flip a coin, what would you say are our chances that we would go over the cliff? well, we're talking the fiscal cliff. price financial chief market strategist. if we are talking percentages, at least, what is it? >> i will say it is at least 25 percent chance that we triggered the fiscal cliff. liz: at least 25. that's better than 50. okay. david and i always are constantly butting in nickel.
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i won one, you won the last one. i said it would be positive. now let's take a bet on the s&p target. what is it for december 31st? >> 1425 is my target. it has been all year, but the way things a going to my need a catalyst to get us back there. we need to avert the fiscal cleft for me get back. if we do it at think we could easily get back. liz: i am going to say because i am win more optimistic, i always am. i'm going to say 1502. 1502 by year-end. why? because everybody uses round numbers, and i want to add a couple points. liz: can resell this before the year-end? our tax rate might go up next year. liz: on the nickel. taxable income. all right. i'm going to let our floor director of want to this. you want to take this? okay. he is like cafeteria with this thing.
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liz: you will get far. we will get to your stocks because you have three, and we want to read through these. yesterday's. stay away from the classic dividend paying pfizer, but you say yes. >> in the short run, these of the type of stocks that will protect you while this debate is going on. the market drift lower, nervousness increases. pretty steady. big dividends. cheap price-earnings multiple. it's like 11 times earnings. it's a big, solid. if things change with better and you want to give more aggressive you consult quickly. liz: by the way, you look at a name like that and say, the dividend is three and a half%. but an even better dividend, and that one is 54%. you love this one. we are hearing it will have a new round of cigarette price hikes. >> well, that is one of the ways to maintain the cash flow, pay these dividends, and they seem to make the mistake. now, they give back a lot in terms of promotions and so
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forth, but that allows them to do. not only that, they have been picking up market share with their menthol brands newport, and they just made a nice acquisition earlier this year and each cigarette business. so if volumes us to the client. liz: the cigarette. what is that? >> a battery powered cigarette. liz: electronic. so that is a growing business. so that five and a half percent, and the stock is way down. it's all of quite a bit recently. it's preachy. liz: at&t. this at that time where they have revised the outlook to negative, yet you say pile and. liz: it's a dividend play. the highest yielding stock. liz: dividends may get taxed more. >> i think you still have time. it's a this -- defensive play.
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liz: until december 31st. >> and then decide our see what happens. but you can on it for the long run because of the dividend the other thing, i have dividend's tax rates go up, if you like the stock on it in a tax qualified count. liz: let me finish with your last one. a little bit richer. it's 20. what the like of that? >> well, i like the fact that business is booming. there able to grow earnings 10% per year. huge market share, discovering all this oil and gas. they are our leading player. >> trying to leave the set with our nickel. he's running away. >> they have exposure to a just an incredible explosion of interest in shale production. there just a leading player.
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liz: the four stocks. thank you very much. you have to fleece the sky. he has article. he has it. he has taken my nickel. thank you so much. the cat. closing bell ringing in six minutes. if you own the stocks you are hitting the jackpot today. stay around to find out which one it is and why you might not have to make a trip to vegas. statement. dow jones industrial. [ male announcer ] this is steve.
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he loves risk.
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but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the marke he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter whahappens, which isn't rocket science. it's just common sense, from td ameritrade. ♪ liz: i forget. euros on the dice. either way, something good is happening at caesars. take a look at the stock and a jumping about eight nap%. this center day job is pretty dramatic. an executive was up there, not the ceo, talking about
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expansion. she apparently mentioned baltimore and boston as a real opportunity. year to date the stock is sold off, but they're trying to expand. they opened the horseshoe casino in cleveland getting a lot of attention. today the stock is jumping a significant amount. not bad. stay tuned. much more ahead. after the bell coming up, and lots of earnings, including delta and will they glean more market share away from h-p, apple, or lose it? that is the big question. david: not good. liz: what is the good one? david: seven is great, double sexes is not bad. does not the only one. it will be talking about a gap, whether consumers are doing okay or not. we are seeing slowdown's all over. europe is and an official recession according to there standards. let's go to a nicole petallides at the new york stock this change. the overall global economy is casting kind of a pall over the market, even though we are managing to do pretty well at
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the end of the day. >> reporter: we have come back. low with 12,500. high was 12,600, but you noted the global economy still being very fragile. weekly jobless claims more atrocious. the fed numbers show pressure. the company, walmart, big staple liz: gas is down going into the bell. slightly higher, straddling the flat line. looking of the close, it's a mixed picture. what actors looking for? >> reporter: they are looking big picture here. the fear index has been to the upside. talking about what we are watching, gas is low. the looking better. but you can't deny a lot of the big names have come under pressure. hit a new low. liz: talk about apple. we have an expert coming in this hour did tell us what exactly apple long term, short-term it does not look good. at 2% drop today alone on apple.